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Westbrook-Camber JV Scores Shallow Bay Industrial Near Port Newark
Cushman & Wakefield arranged the sale of Port Newark Light Industrial Park, a five-building, 113,743-square-foot industrial portfolio at 119, 175 & 182 Hill St. and 43 Hickory St, in Orange, NJ.
Cushman & Wakefield’s Gary Gabriel, Kyle Schmidt, David Bernhaut and Ryan Larkin represented the seller, Sitex Group. The property was acquired by a joint venture between affiliates of Westbrook Partners and Camber Real Estate Partners for an undisclosed sum.
“Shallow bay, multi-tenanted infill product is limited in this region, with no notable construction in the pipeline,” said Gabriel. “The buyer recognized the scarcity of inventory and the ability of the park to cater to a wide variety of occupiers.”
Unit sizes at Port Newark Industrial Park range from 2,500 to 13,500 square feet. Each unit features individual store fronts and dedicated loadings docks. The portfolio is leased to 22 tenants.
- ◦Sale/Acquisition
